Afton Properties Acquires Multifamily Asset In Riverside For $53.5M
5252 El Cerrito Drive, Riverside, CA, USA
$53,500,000
$252/SF
Building Size
212,292 SF
Asset Type
MultiFamily
Closing
Aug 19, 2019
AI
The multifamily property located at 5252 El Cerrito Drive in Riverside has been sold for $53,500,000. The transaction took place on August 20, 2019. The property has a total square footage of 212,292 and a price per square foot of $252.01. The buyer of the property was Afton Properties, and the seller was Klingbeil Capital Management.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $53,500,000
- Address: 5252 El Cerrito Drive
- Market: Riverside
- Square Footage: 212,292
- Price Per Square Foot: $252.01
The deal was facilitated by brokers Jim Fisher, Jeff Rowerdink, Mike Smith, and Joe Leon from Berkadia.
Players
Riverside MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.30%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93